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Attractive pricing versus dollars luring GCC borrowers back to the single currency
€300m of reoffered bonds priced at par, another tranche to be placed privately
One recruit will cover insurance companies, the other UK financial firms
Data
Post-earnings issuance surged with borrowers taking advantage of tight spreads to raise more than $14bn in early February.
French bank scoops top spot overall, while BNP Paribas leads in senior and Crédit Agricole in capital
Strong demand and tight spreads has propelled volumes past January records
Late-week surge shows investors remain hungry for paper despite macro volatility
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BMW returns with German prime car leases, Domivest with Dutch buy-to-let mortgages -
Three trades have come in as many days
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◆ Issuer nearly halves funding cost from April 2024 capital debut... ◆... close to larger competitors' spreads ◆ New deal strengthens its bail-in debt layer and ratings
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◆ Three European lenders hit a busy Friday market with senior bonds ◆ OP Corporate Bank prints the largest of these in a two-part dual-format structure ◆ Once-a-year issuer Iccrea Banca lands at sub-100bp
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◆ Issuer tightens by 7bp during execution ◆ Covered was first from issuer since September ◆ Aareal had market to itself on Friday
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Issuer braves market volatility to move ahead alone ahead of competing supply, achieving largest unsecured book
Polls and awards
The covered bond market gathered in Seville to celebrate its standout deals, institutions and individuals
Last chance to vote for the best winning deals, individuals and organisations in the covered bond market
The leading banks, issuers, individuals and other market players were named at GlobalCapital's flagship industry dinner in London
The winning deals and organisations will be revealed at our gala dinner in Seville on September 18
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